News
Afghanistan’s central bank to auction $15 million to stabilize Afghani
Afghanistan’s central bank has announced an auction of $15 million to stabilize the Afghani, inviting bids from moneychangers, private banks, and other eligible providers. This effort continues the bank’s ongoing measures to prevent further devaluation of the currency.
Afghanistan’s central bank announced on Monday that it will auction 15 million U.S. dollars in a bid to maintain the stability of the national currency, the Afghani.
The auction is aimed at preventing further devaluation of the currency.
In a statement posted on its X account, Da Afghanistan Bank specified that bidders, including moneychangers and private banks, must deposit the equivalent amount in Afghani in cash at the central bank.
The bank has called on eligible banks, foreign exchanges, and monetary service providers to participate in the auction.
Over the past three years, the central bank has injected millions of U.S. dollars into the money exchange market to stabilize the Afghani.
ALSO READ : Tunji-Ojo orders probe into Kogi prison break
Since taking power in August 2021, the Afghan interim government has implemented various measures to safeguard the value of the currency against foreign currencies.
As of now, the exchange rate stands at approximately 70.50 Afghani for one U.S. dollar.
-
Latest4 days agoCole-Alegbe unveils memoir, urges leaders to harness technology for lasting impact
-
Business7 days agoX3M Ideas donates 50 Walkie-Talkies to strengthen security operations in Onigbongbo
-
Latest1 week ago2027: Atiku vows direct payment of local government funds if elected president
-
Business4 days agoJetour G700 PHEV Storms Abuja as Jetour Nigeria Takes Luxury Mobility Showcase to FCT
-
Business2 days agoNigerian Breweries’ H1 profitability strengthens as revenue hits N804bn
-
Business6 days agoRising crude prices threaten fresh petrol price hike in Nigeria
-
Business1 week agoNaira breaks below N1,330/$, hits strongest level in over two years
-
Business5 days agoMultinationals exit Nigeria as economic pressures reshape business landscape